Solvent Market Size, Share, Industry Trends, Report, Growth, Key Players and Forecast by 2027

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A solvent is a heterogeneous group of structurally diverse chemicals that can be used to dilute, dissolve, or disperse other compounds to form a solution. It is usually a liquid, but can also be a solid, a gas, or a supercritical fluid. Also available in organic variants, solvents are extensively used as cleaning and degreasing agents and as key ingredients in products such as printing inks, spot removers, varnishes, adhesives, cosmetics, perfumes, detergents, paint thinners, and nail polish removers. 

Report Metric
Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027

According to the latest report by IMARC Group, titled “Global Solvent Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027″, The global solvent market reached a value of US$ 43.74 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 57.95 Billion by 2027 exhibiting a CAGR of 4.50% during 2022-2027.

Solvent Market Trends and Drivers:

The market is primarily driven by the increasing product applications in various end use industries. In addition, solvents are extensively utilized in household cleaning and personal care products, representing another growth-inducing factor.

Besides this, due to the rising environmental concerns among individuals, several key players are making huge investments and collaborating with the top biotechnology companies to launch green and bio-based solvents. This, coupled with the emerging solvent applications in chemical manufacturing processes, cooling circuits, dry-cleaning, and deicers, is creating a positive market outlook across the globe.

Moreover, the implementation of stringent government regulations regarding the usage of organic solvents is also contributing to the market growth. Furthermore, rapid industrialization and urbanization, increasing research and development (R&D) activities, and technological advancements are some of the other factors anticipated to propel the market growth.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Solvent Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Archer-Daniels-Midland Company

Ashland Inc.

BASF SE

Bharat Petroleum Corporation Limited

bp p.l.c.

Celanese Corporation

Dow Inc.

Eastman Chemical Company

Exxon Mobil Corporation

Honeywell International Inc.

Huntsman Corporation

LyondellBasell Industries N.V.

Royal Dutch Shell plc

Sasol Limited

Solvay S.A.

The report has segmented the market on the basis of region, product, source and application.

Breakup by Product:

  • Alcohols
  • Hydrocarbons
  • Ketones
  • Esters
  • Chlorinated
  • Others

Breakup by Source:

  • Petrochemical-based
  • Bio and Green

Breakup by Application

  • Paints and Coatings
  • Printing Inks
  • Pharmaceuticals
  • Cosmetics and Adhesives
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022- 2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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